Nation e-Edition

Tax attack

Tax attack Toby Sanger, senior economist with the Canadian Union of Public Employees.

By Tony Best and Marlon Madden | Tue, November 27, 2012 - 12:08 AM

BARBADOS’ INTERNATIONAL BUSINESS SECTOR is once again under attack.

This time, the critics are from one of its favourite source markets – Canada.

The voices calling for a crackdown on international jurisdictions, like Barbados, where Canadian millionaires are said to be sheltering money from tax authorities at home, include opposition parliamentarians, tax specialists and economists.

They contend that the vast compilation of assets in Barbados is in the offshore financial sector, rather than in manufacturing facilities, real estate and other business opportunities.

Toby Sanger, a senior economist with the Canadian Union of Public Employees, charged that Canada’s banks were shuffling large amounts of investment cash into Barbados, the Cayman Islands, Bermuda and other countries in order to avoid paying taxes at home.

A similar complaint came from the opposition in both the House of Commons and the Senate in Ottawa, home of Canada’s federal parliament.

Please read the full story in today’s DAILY NATION, or in the eNATION edition.

  • Editor's Choice

Share your thoughts

Please sign in or register to post your comments.

Latest Videos

Quick Poll

Do you think the latest attempt to regulate the public service vehicle sector will be successful?

View Past Polls

Stay Connected to Your World

Join Your Friends & Our Community

Your Friends' Activity

Daily Cartoons

  • Sunday, April 20, 2014 toon - 2014 04 20
  • 041914 pun de block - 2014 04 19
  • Friday, April 18, 2014. - 2014 04 18